Mercer grows advice business footprint

Mercer has expanded its financial advice business in Western Sydney, with a new office opening today in Parramatta.

In a statement, the company said it has established a team in Parramatta in an effort to better service customers in that area as well as gain new business. Mercer will maintain its financial advice operations in Sydney's CBD.

Parramatta is considered "the fastest-growing region" in NSW and is expected to be home to 70 per cent of Sydney's population by 2050, the statement said.

Mercer's financial advice leader (pacific) Michelle Smith said: "We are committed to improving the prosperity of Australians and the expansion to Parramatta places us at the geographical heart of Sydney and a major business, government and commercial hub."

She added: "For our clients, this means access to on-the-ground financial advisers, tapped into a global network of researchers and investment experts currently advising on $190 trillion of assets worldwide."

The company also announced that its financial advice team is growing, consisting now of 60 advisers operating out of seven offices around Australia.

"Mercer was the first salaried advice business in Australia to have every office [60 financial advisers] accredited as 'Professional Practices' of the Financial Planning Association," Ms Smith said.